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Original poster

I just won the ruddy lottery. But …

312 replies

Lotteryinducedturmoil · 02/06/2023 19:37

I just won the ruddy lottery 🤩
£10,000 per month for a year 🤩
But, I’m not sure if I can spend it!?
I have been desperately saving for a deposit to buy my first house for myself and my 3 young daughters for years so this is beyond bloody amazing.
I’m a lone parent & work full time on minimum wage. My wage only just covers my rent so I get Universal Credit to top up my earnings.
I can’t work out if I can use all of the money to put towards a house deposit. Would that be classed as deprivation of capital?
I have been googling my fingers to the bone and can’t find anything out other than I may be expected to live frugally on it for ever more.
My head is going around in circles and getting nowhere.
The first £10,000 monthly amount will take me over the threshold of the savings limit of £16,000 meaning that I won’t qualify for universal credit any longer.
Will I be able to get a mortgage with just my (ever so slightly over) £1,000 a month wages?
I had spoken to a mortgage broker recently and they said I’d be able to get a small mortgage for a shared ownership property with my current wage plus UC benefits/ child benefit etc.
Does anyone have a clue how it all works?
I also have a complete twat of a husband who I have been separated from for 5 years but am still married to. Will he be able to get his nasty hands on any of it?
Any advice would be most helpful.

OP posts:
HangingOver · 02/06/2023 19:39

I have no idea but huge congratulations! I love stories like this.

Tirediam · 02/06/2023 19:41

This is absolutely amazing but speak to a solicitor as if you’re married I’m sure he can put a claim on it.
good luck!

Tadpolle · 02/06/2023 19:42

Congrats!

No idea if this would work but could you get the monthly lottery payment paid into a totally trusted persons account to keep for you? I would ask my mum or dad. Or wold it still mess up your UC when you eventually put down a house deposit?
Could that be done in trust for kids maybe?

musixa · 02/06/2023 19:47

Congratulations! Do the Lottery not offer advice when you win a large prize like that? Depending on how much of the £10k a month you could save, that could give you a substantial deposit and a correspondingly much smaller mortgage.

OooohAhhhh · 02/06/2023 19:49

Wow!!! Huge congrats! How exciting!

OooohAhhhh · 02/06/2023 19:50

Was it on a scratch card?

Quveas · 02/06/2023 19:50

Tadpolle · 02/06/2023 19:42

Congrats!

No idea if this would work but could you get the monthly lottery payment paid into a totally trusted persons account to keep for you? I would ask my mum or dad. Or wold it still mess up your UC when you eventually put down a house deposit?
Could that be done in trust for kids maybe?

Please don't advise somebody to commit benefit fraud. It can land them in prison.

doubleshift · 02/06/2023 19:50

You don't need any benefits with that much money coming in.

Blondey2023 · 02/06/2023 19:51

Yes you will no longer be eligible for universal credit. But you don't need it now? 10k a month is more than enough for a deposit.

Blondey2023 · 02/06/2023 19:51

Oh and congratulations! Amazing!

thesnailandthewhale · 02/06/2023 19:52

Such good news, congratulations! You definitely need proper financial advice re. your ex. If it would affect your UC etc could you consider putting some into a pension? Not sure if that would stop it affecting your uc payments although ex May still have a claim on that.

wildfirewonder · 02/06/2023 19:52

You will be able to get a mortgage with just your wage and a much larger deposit presumably, in a year when you have received £120k. But you will need to ask a mortgage advisor about what you can borrow.

You will need to cancel your UC claim very promptly.

Enjoy the good fortune. Speak to a solicitor about protecting this from your ex.

sadieshavingashindig · 02/06/2023 19:53

Aaargh this is amazing - congratulations!

bibbityboppityboo · 02/06/2023 19:53

Congratulations that's amazing!!!

I'd speak to one of the lottery advisors if possible? Hopefully even if it stops your UC, you'd still be able to save a fortune over a year or two and put a great deposit down?

Also I love to hear someone who's actually won it's fantastic!!

Tadpolle · 02/06/2023 19:53

I didn't know that would be benefit fraud!

Prettypaisleyslippers · 02/06/2023 19:54

It should stop your UC payments. That’s a huge income!!! My understanding is that it is tax free, so equivalent of a salary of over £200k.

save as much as you can for your deposit, clear any debts.

mumofthemonsters808 · 02/06/2023 19:55

No financial advice from me but a huge congratulations, amazing news, I bet you’re floating on cloud 9.

musixa · 02/06/2023 19:55

doubleshift · 02/06/2023 19:50

You don't need any benefits with that much money coming in.

It's only coming in for a year. £120k isn't going to keep the OP for the rest of her life.

If she sensibly uses the bulk of the money towards a house this would likely reduce what she is paying monthly for 'accommodation' (at present the whole of her £1k a month wage) but £1k a month is unlikely to be enough to cover her mortgage plus all other expenses - she wants to know where she would stand if she did this.

SeasonFinale · 02/06/2023 19:55

As you won't get UC now keep back what you need to cover that and save the rest and then but next year when you will probably have over £100k still as a deposit

SeasonFinale · 02/06/2023 19:56

and divorce ASAP before you get too much paid!

Prettypaisleyslippers · 02/06/2023 19:56

And yes, your husband is probably entitled to some because you are not divorced

Catspyjamas17 · 02/06/2023 19:56

Surely you can save it and don't have to spend £10k a month? Congratulations, I think this is the best one to win.

StColumbofNavron · 02/06/2023 19:57

Isn’t this game £10k a month for 30’years?

OP, I used to work for a private bank and the lottery and your bank will have a session and advise you.

Ilikewinter · 02/06/2023 19:57

Woah hang on ... you will be receiving £10k per month and want to know if you can get a mortgage 😂😂😂 .... no OP you need to keep up that benefit claim. Oh yeah and I bet your ex will be straight back in touch..better get that divorce asap.

Crazymadchickenlady · 02/06/2023 19:57

It’s only for a year so £120000 total which isn’t that much when you have to live off it as well. It’s not like she will be a millionaire!! No idea how long dwp will expect you to live off it after the year before you can claim benefits again and I assume you husband will have some claim though no idea how much.